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• IRA and Roth IRAs -
  Traditional individual retirement accounts (IRAs) can be a good way to save for retirement.
  
  A traditional IRA is simply a tax-deferred savings account that is set up through an investment institution and has several investing options. For instance, an IRA can include stocks, bonds, mutual funds, cash equivalents, real estate, and other investment vehicles. One of the benefits of a traditional IRA is the potential for tax-deductible contributions.
  
  You can contribute directly to a traditional IRA or you can transfer assets directly from another type of qualified plan, such as a SEP or a SIMPLE IRA. Rollovers may also be made from a qualified employer-sponsored plan, such as a 401(k) or 403(b), after you change jobs or retire. Not everyone contributing to a traditional IRA is eligible for a tax deduction. If you are an active participant in a qualified workplace retirement plan — such as a 401(k) or a simplified employee pension plan — your IRA deduction may be reduced or eliminated, based on your income.
  
  
  Roth IRAs are tax-favored financial vehicles that enable investors to save money for retirement. They differ from traditional IRAs in that taxpayers cannot deduct contributions made to a Roth. However, qualified Roth IRA distributions in retirement are free of federal income tax and aren’t included in a taxpayer’s gross income. That can be advantageous, especially if the account owner is in a higher tax bracket in retirement or taxes are higher in the future.
  
  Rollover IRA If you leave a job or retire, you might want to transfer the money you’ve invested in one or more employer-sponsored retirement plans to an individual retirement account (IRA). An IRA rollover is an effective way to keep your money accumulating tax deferred.
  
  Using an IRA rollover, you transfer your retirement savings to an account at a private institution of your choice, and you choose how you will invest the funds. To preserve the tax-deferred status of retirement savings, the funds must be deposited in the IRA within 60 days of withdrawal from an employer’s plan. To avoid potential penalties and a 20% federal income tax withholding from your former employer, you should arrange for a direct, institution-to-institution transfer.
  
  This material is in reference to the material written and prepared by Emerald Publications. © 2009 Emerald Publications
• Retirement Planning -
  The financial risks facing tomorrow's retirees...
  • How would you replace your paycheck?
  • Do you have an income plan that will last you a lifetime?
  • What would you do if you run out of money?
  • How would you protect your retirement income from stock market losses?
  • How far will your dollar go? Will you outlive your income?
  • Will your retirement income dictate your lifestyle in retirement?
  • How would you transfer your wealth to your beneficiaries in a tax efficient manner?